Land Remediation Relief
At LJS Accounting Services, we empower businesses by providing support for Land Remediation Relief
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Land Remediation Relief (LRR), also known as Contaminated Land Tax Relief, is a relief from Corporation Tax within the commercial property sector – providing a 100% deduction, and an extra deduction of 50%, reducing a company’s taxable profits by 150% of qualifying expenditure. If you need to make a Land Remediation Relief claim, we can help.
Allow LJS Accounting Services to assist you in making an LRR claim today.
Do You Qualify for Land Remediation Relief?
Individuals who acquire land or buildings from a third party are likely to be eligible to claim Land Remediation Relief – including:
- Commercial property owners
- Property Developer
- Property investor
Conditions to Meet
Certain conditions must be met to be eligible to make a Land Remediation Tax Relief claim:
- The land must be in the UK
- The land must either be contaminated or derelict
- The company claiming must have a freehold or lease of at least seven years
- Any contamination must not be caused by the company putting in the claim
A common misconception is that Land Remediation Relief is restricted to land cleanup alone, which is incorrect.
Qualifying Land Remediation Expenditure
Qualifying Land Remediation Expenditure typically includes costs for:
- Removing contaminated soil, water, or building structures
- Deciphering the level of contamination
- Wages related to remediation work
- Installation of new systems
- Materials
Our Criteria
To claim for Land Remediation Relief at LJS Accounting Services, your business must meet set criteria:
- Establish the contamination level of contaminated land
- Remove the contamination
- Contain the contamination to reduce harm
- Aim to make the land suitable for new use
If you meet our criteria, we can happily assist you in making an LRR claim.
Make a Land Remediation Relief Claim Today
We provide expert land remediation services at LJS Accounting Services. You must make your Land Remediation Claim within one year of filing your company tax return. However, it may be possible to make a claim, amendment, or withdrawal after your filing date if HMRC allows you to do so.
The scheme offers a clear path to sustainability and positive change in the UK. We encourage businesses to take advantage of the relief to invest in the improvement of sites and local communities. It allows for qualifying expenses during the remediation process to be offset against your company’s taxable profits – offering financial benefit for your business.
For expert assistance with Land Remediation Relief claims in the UK, please contact us today on 0151 601 0000.
WHY LJS ACCOUNTING
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We are expert accountants that offer bespoke accounting services to Liverpool, St. Helens, and the surrounding Merseyside areas to help people grow their finances or businesses.
We have been acknowledged for our high-quality work by being awarded 'Accountancy Firm Of The Year' by the Liverpool Awards 2020.
We understand that everyone's situation is different, which is why we offer bespoke advice that will benefit you moving forward.
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